SAN FRANCISCO - Informatica, a leader in enterprise cloud data management, has expanded its collaboration with Snowflake (NYSE:SNOW), unveiling new data management tools at the Snowflake Data Cloud Summit 2024. The announcement, made today, introduces Native SQL ELT support for Snowflake's Cortex AI Functions, the Enterprise Data Integrator (EDI), and the Cloud Data Access Management (CDAM).
These innovations are designed to facilitate the development of Generative AI applications and streamline data integration and governance on the Snowflake AI Data Cloud. The Native SQL ELT for Cortex AI Functions will allow Informatica's Intelligent Data Management Cloud (IDMC) customers to integrate Cortex AI Functions into their no-code data pipelines, enhancing the capabilities following the initial support of 250 Native Snowflake functions.
The EDI, recognized as one of the first fully functional Snowflake Native Apps by an ISV Partner, offers a user-friendly interface and Snowpipe Streaming integration for expedited data discovery and loading. Informatica is offering a 30-day free trial of the EDI service to give users a firsthand experience before purchasing.
CDAM for Snowflake delivers a centralized platform for policy-based data access management, integrating access control with classification, discovery, and cataloging tools. It aims to simplify data governance and control over data usage through an intuitive policy authoring interface and automated contextual controls.
Informatica's partnership with Snowflake has been instrumental in driving digital transformation, as noted by Jeff Gibson, VP of IT US and Canada at Brink's U.S. The collaboration is expected to continue unlocking future possibilities for data processing and management.
Prasanna Krishnan, Snowflake's Head of Collaboration and Horizon, emphasized the joint mission of enabling customers to bring AI and apps to the data, with Informatica's early adoption of Cortex AI for Generative AI Applications and the launch of EDI and CDAM enhancing this endeavor.
Informatica's integration with the Snowflake AI Data Cloud positions the company alongside Snowflake in empowering organizations to establish fast and secure data pipelines for Generative AI applications. Visitors to the Snowflake Data Cloud Summit can learn more about the partnership and the new features at Informatica booth #1326.
This news is based on a press release statement from Informatica.
InvestingPro Insights
As Informatica (NASDAQ: INFA) continues to innovate in the enterprise cloud data management space, its financial metrics and analyst outlook provide valuable context for investors. With a market capitalization of $8.47 billion, Informatica stands as a significant player in the industry.
Analysts have taken a positive view on the company's prospects, with 6 analysts revising their earnings upwards for the upcoming period, indicating confidence in Informatica's growth trajectory.
InvestingPro data highlights Informatica's robust gross profit margin, which stands at an impressive 79.72% for the last twelve months as of Q1 2024. This figure underscores the company's ability to efficiently manage its cost of goods sold and maintain profitability. Additionally, the company's EBITDA growth over the same period is notable at 37.0%, reflecting strong operational performance.
From an investment standpoint, Informatica's stock has delivered a high return over the last year, with a 59.45% price total return. This performance is particularly compelling for investors looking for growth in their portfolio. Moreover, the company's solid financial health is evidenced by the fact that its liquid assets exceed short-term obligations, providing a buffer against market volatility and financial stress.
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